Strong stock markets have fueled a surge in IPO activity in 2017. The country has already seen more than $3 billion in IPOs this year.

ICICI Lombard General Insurance company, India’s largest private sector non-life insurer in India in terms of gross direct premium income (GDPI), is launching the initial public offer of its shares on Friday. The offering will make it the second ICICI unit to go public after ICICI Prudential Life IPO last year. ICICI Lombard’s Rs 5,700 crore IPO will give the company a valuation of Rs 30,000 crore after the issue. The company promoters are set to dilute their holdings by 19 per cent, according to the Press Trust of India.

Here’s What You Need To Know About ICICI Lombard’s IPO

The issue opens on Friday (September 15), and will close on September 19 (Tuesday). Priced in a band of Rs 651-661, the issue can be subscribed in lot sizes of 22 shares.

Over 8.6 crore equity shares will be sold as part of the IPO, which will include ICICI Bank selling over 3 crore shares and the rest from Canadian Fairfax Financial Holdings.

Bank of America Merrill Lynch, along with ICICI Securities and IIFL are the bankers to the IPO.

SBI Life Insurance Co., the pure-play life insurance unit of the biggest Indian lender, State Bank of India, will launch its IPO on September 20. Strong stock markets have fueled a surge in IPO activity in 2017. The country has already seen more than $3 billion in IPOs this year, according to Reuters data.